Massachusetts § 57 Liability for issuing void stock

Massachusetts Statutes

§ 57 — Liability for issuing void stock

Massachusetts § 57

Part IADMINISTRATION OF THE GOVERNMENT

Title XXIICORPORATIONS

Ch. 160RAILROADS

This text of Massachusetts § 57 (Liability for issuing void stock) is published on Counsel Stack Legal Research, covering Massachusetts primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mass. Gen. Laws ch. 160, § 57 (2026).

Text

Section 57. A certificate of stock or scrip issued in violation of the preceding section shall be void; and each director of the corporation issuing it shall be liable to a penalty of one thousand dollars, to be recovered by indictment in the county where he resides, or, if he resides in no county, in the county where he is commorant, or the offence was committed; but if any such director proves, that, before such issue, he filed his written dissent thereto with the clerk, and at no time voted therefor, he shall not be so liable.

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Section 57. A certificate of stock or scrip issued in violation of the preceding section shall be void; and each director of the corporation issuing it shall be liable to a penalty of one thousand dollars, to be recovered by indictment in the county where he resides, or, if he resides in no county, in the county where he is commorant, or the offence was committed; but if any such director proves, that, before such issue, he filed his written dissent thereto with the clerk, and at no time voted therefor, he shall not be so liable.

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Bluebook (online)

Massachusetts § 57, Counsel Stack Legal Research, https://law.counselstack.com/statute/ma/160/57.